Tim Leissner settles FCPA charges with SEC
The former chairman of Goldman Sachs in Southeast Asia settled civil FCPA charges with the SEC Monday for his role in the looting of the Malaysian sovereign wealth fund 1MDB.
The SEC charged Tim Leissner, 50, with violating the anti-bribery, internal accounting controls, and books and records provisions of the FCPA.
He agreed to a permanent ban from the securities industry and to disgorge $43.7 million.
The SEC
said the disgorgement will be offset by amounts Leissner paid under a $43.7 million forfeiture order that was part of a plea deal he made last year with the DOJ.
He pleaded guilty in November 2018 to a two-count criminal information filed in federal court in New York.
The DOJ charged him with conspiring to launder money and violate the FCPA.
He bribed “various Malaysian and Abu Dhabi officials” and circumvented Goldman’s internal accounting controls, the DOJ said.
The FCPA Blog
https://fcpablog.com/2019/12/16/tim-leissner-settles-fcpa-charges-with-sec/